Mecanismos de transmissão da inflação de commodities não energéticas para o IPCA e seu núcleo

• Ano de defesa: 2014
• Autor(a) principal: Joao Paulo Madureira Horta da Costa
• Tipo de documento: Dissertação
• Tipo de acesso: Acesso aberto
• Idioma: por
• Instituição de defesa: Universidade Federal de Minas Gerais; UFMG
• Palavras-chave em Português: Vetor autorregressivo; Commodities; Nível de preços; Taxa de câmbio; Mercado futuro de mercadorias; Produto interno bruto
• Link de acesso: http://hdl.handle.net/1843/AMSA-9TMLFY

We estimated vector autoregression for the brazilian economy between the years 1999 and 2012 in order to ascertain the magnitude of the pass-through from non-energy commodities index to prices levels index. We analyzes the responses of the inflation index as full mainly of core one. The core price level is impacted from the 2nd quarter ahead and its effects are similar to headline prices. The exchange rate and the level of economic activity plays a major role for the analysis of pass-through. It is concluded that the impact in IPCA transmits to its core, which shows the spread of the inflation of the brazilian economy from commodity market.